Warnex Extends Maturity Date of its Outstanding Debentures and Provides Update on its Listing Status

LAVAL, QUEBEC--(Marketwire - March 2, 2012) - Warnex Inc. (TSX:WNX) ("Warnex") is pleased to announce that Persistence Capital Partners LP ("PCP") has agreed to extend the maturity date of the two outstanding convertible debentures of Warnex that it holds in the aggregate principal amount of approximately $1,425,630 from February 29, 2012, to March 19, 2012.

In addition, Warnex announces that, as disclosed in a recent TSX Bulletin, the Toronto Stock Exchange (the "TSX") has agreed to extend the date of delisting of the Common Shares of Warnex from the TSX to the close of business on March 19, 2012. Warnex continues to explore its various options in light of this scheduled delisting.

About Warnex

Warnex (www.warnex.ca) is a life sciences company devoted to protecting public health by providing laboratory services to the pharmaceutical sector. Warnex Analytical Services provides pharmaceutical and biotechnology companies with a variety of quality control services, including chemistry, chromatography, microbiology, method development and validation, and stability studies. Warnex Bioanalytical Services specializes in bioequivalence and bioavailability studies for clinical trials. Warnex has two facilities located in Laval and Blainville, Quebec.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For further information identifying known risks and uncertainties, relating to financial resources, liquidity risk, key customers and business partners, credit risk, foreign currency risk, government regulations, laboratory facilities, volatility of share price, employees, suppliers, and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Warnex's most recent Management's Discussion and Analysis, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.

Contact Information

Michael SingerChairman of the Executive Committeeof the Board of Directors, Warnex Inc.(514) 940-3610msinger@thallion.com